X0304 4 2011-08-12 0 0001500217 American Assets Trust, Inc. AAT 0001179885 NELLES DUANE C/O AMERICAN ASSETS TRUST, INC. 11455 EL CAMINO REAL, SUITE 200 SAN DIEGO CA 92130 1 0 0 0 Common Stock, par value $0.01 2011-08-12 4 P 0 25000 18.5433 A 50000 I By trust Common Stock, par value $0.01 1952 D The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $18.4299 to $18.70, inclusive. The reporting person undertakes to provide to American Assets Trust, Inc. ("AAT"), any security holder of AAT or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in this footnote (1). The shares are held by Nelles Intervivos Trust dtd. 3/29/1976, Duane A. Nelles and Gail G. Nelles, Trustees. The reporting person disclaims beneficial ownership of these shares except to the extent of his pecuniary interest therein. /s/ Nicole B. Baker, Attorney-in-fact 2011-08-15